There are many lowest currencies in the world 2022, which are considered to be worthless and inconsequential if seen according to the whole world. The value of the currency is a reflection of the stability and strength of the nation’s legal tender. The currency of highly successful countries tends to appreciate in value.
The high value of a currency indicates that the inflation process within the country is in control. The popularity of one currency is not ensured by its value. The strength of the economy of an individual country doesn’t guarantee that its currency is the most powerful. The world has drastically changed in recent years.
With the rise of COVID-19 and variations thereof, many countries across the globe have had to reconsider how they handle important industries to ensure the security of their workers.
In spite of these global issues, the lowest currencies in the world were much identical to the way they were back in the year 2000. Let’s evaluate how these lowest currencies in the world on the foreign exchange market compared to the world’s most traded currency – the U.S. Dollar (USD).
Here are the top 10 weakest currencies in the world in 2022:
|Rank||Currency||Compared to USD|
|1.||Iranian Rial (IRR)||1 USD = 42400.00|
|2.||Vietnamese Dong (VND)||1 USD = 24365.00|
|3.||Indonesian Rupiah (IDR)||1 USD = 15428.00|
|4.||Uzbekistani Som (UZS)||1 USD = 11265.00|
|5.||Sierra Leonean Leone (SLL)||1 USD = 18425.00|
|6.||Guinean Franc (GNF)||1 USD = 8750.00|
|7.||Laotian Kip (LAK)||1 USD = 17355.00|
|8.||Paraguayan Guarani (PYG)||1 USD = 7217.73|
|9.||Cambodian Riel (KHR)||1 USD = 4110.00|
|10.||Ugandan Shilling||1 USD = 3732.51|
10 Lowest Currencies In The World 2022[Updated]
1. Iranian Rial
It is believed that the Iranian Rial is among the most valued currency around the globe. It is also the least expensive exchange rate relative to USD. To simplify the calculation, Iranians regularly use the phrase “Toman”. 1 Toman equals 10 Rials.
It is the Iranian Rial is at the top of the list of 10 currencies that are the most sluggish in the world, having the equivalent of 42 thousand IRR, equivalent to $1 USD. The rial is still the most weakened currency due to sanctions that stop Iran from exporting petroleum to the world market, partly because of the political turmoil in the region.
2. Vietnamese Dong
The second most affordable currency around can be found in the Vietnamese Dong. Vietnam is not yet on the path to transforming from an economy that is centralized to a market economy. This means that it is a fact that the Vietnamese Dong is the currency that has the lowest value.
Even though there has been a slight improvement since the year 2000, Vietnam is still struggling to transition from an economy that was centralized to a market-based economy. With a comparatively small economy compared to other nations, investors are skeptical about investing any significant amount of capital into Vietnam.
3. Indonesian Rupiah
As with other countries that are among the top 10 currencies that are weakest around the globe as well, the Indonesian rupiah has seen tiny improvements in the past two years.
However, the Indonesian government is determined in its efforts to increase the value of its currency in spite of the constant depreciation.
4. Uzbekistani Som
While this Uzbekistani som has been able to climb in the rankings on our list of the lowest currencies in the world but its value has decreased since the year 2020.
Som continue to struggle after the Uzbeki government lowered the value of the currency of its official government by more than 50% in 2018 in an effort to boost the position of the country for investors.
5. Sierra Leonean Leone
An extremely impoverished African nation, Sierra Leone is continually subject to a variety of hardships and setbacks. With a very low rate of development in terms of social and economic the country’s currency has gone through constant devaluation over the past few years.
Since the country has had to go through numerous difficult tests, the currency is likely to be less valuable. The war that recently occurred in Sierra Leone further lowered the exchange rate of Sierra Leonean Leone.
6. Guinean Franc
One of the most overvalued currencies that is it is the Guinean Franc is the official currency of Guinea. An African country that has a high rate of inflation, rising poverty, and the presence of criminals, Guinea has been suffering from a devaluation of its currency for quite a while.
The Guinean Franc has made small improvements in the last two years but is one of the most devalued currencies around the world.
7. Laotian Kip
As the sole currency listed on the list of lowest currencies in the world that didn’t devalue was Laotian kip. Since 1952 when it was first issued, Laotian Kip has not been able to increase itself against that of the US Dollar.
In addition, the Laotian Kip is one of the lowest currencies in the world however, its situation has changed worse from 2020. It was actually at its lowest in the span of 15 years in 2021.
8. Paraguayan Guarani
There’s been almost nothing changed in location as well as the stability of Paraguayan Guarani. This is disappointing because Paraguay was improving before being struck by the difficulties caused by COVID-19.
COVID-19 pandemic. The result is that any improvement is very minimal, and may result in the guarani remaining in the top 10 of the most vulnerable currencies around the globe for a long time to come.
9. Cambodian Riel
It is the currency used by the monarchy state of Cambodia located in Southeast Asia, the Cambodian Riel is one of the most notable in the top ten list of lowest currencies in the world.
It was introduced in 1995 as a replacement for it the Indochinese Piaster, this currency initially featured a lower rate of exchange. This currency Cambodian Riel was not initially well-liked by the Cambodians who prefer to use other currencies.
10. Ugandan Shilling
The last one on our list of the lowest currencies in the world belongs to the Ugandan shilling which has only risen little in value over the past two years.
Other than that small growth, however, the Ugandan shilling is relatively stable, which implies that its value could increase slowly in the next few years.